Crypto Assets exchange Gate announced its exit from the US market.

Gate announced on its website that it will cease operations in the United States on December 18, 2023.
The statement pointed out that the company will stop all trading, deposits, and other services, and users should withdraw all assets before December 18.
Gate is one of the world's leading crypto assets exchanges, established in 2013. This withdrawal from the U.S. market means that Gate will no longer be able to provide services to U.S. users.
Recently, U.S. regulatory agencies have intensified their oversight of the Crypto Assets industry. In June of this year, the U.S. Securities and Exchange Commission (SEC) sued a certain exchange and a certain exchange, accusing them of violating securities laws.
Gate's decision may be to avoid potential regulatory risks. However, the company stated it will continue to provide services for users in other countries and regions.
For American users, this means they need to transfer their assets to other platforms or wallets before the deadline. Gate promises to assist users in completing the asset transfer.
This news highlights again the regulatory challenges faced by the Crypto Assets industry and how the differences in regulatory policies across countries may impact exchanges.